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The real estate market is seeing mixed developments in demand, rents and transactions. In Ho Chi Minh City, shophouses at the podiums of apartment buildings are gradually moving away from a period of vacancy as landlords proactively reduce rents, attracting households to open service and retail businesses. In contrast, primary apartment transactions in the third quarter fell by 72% to 83% year on year as high borrowing costs and sharply rising prices made buyers more cautious. Nevertheless, stronger homebuying demand, more abundant supply and demand stimulus policies are expected to support a more positive fourth quarter, with transactions potentially doubling. In Nha Trang, tenants continue to face difficulties as apartment rents have risen 30% to 40% compared with the beginning of the year. Meanwhile, Ho Chi Minh City has issued ownership certificates for 43,200 homes since the beginning of the year, while 13,949 applications are awaiting buyers’ payment of registration fees. Regar...

Today’s real estate landscape features notable developments in policy, supply and land auctions. Ho Chi Minh City has proposed collecting an amount equivalent to 1% of the transaction value from organizations and individuals transferring houses or land for the first time in TOD development areas. The city has also brought four land lots in Thu Thiem back into its auction plan, with a combined starting price of nearly VND 16.7 trillion, 3.2 times higher than in 2021. Meanwhile, nearly 160 hectares in Long Thanh Ward, near Long Thanh International Airport, are expected to be auctioned this year to support airport operations. In Hue, 25 residential land lots in the An Van Duong urban area are also set to be auctioned, with starting prices ranging from VND 2.6 billion to more than VND 6.5 billion per lot and a combined starting value exceeding VND 101 billion. In the housing segment, primary apartment transactions in Ho Chi Minh City during the third quarter fell by 72-83% year on year a...

The real estate market recorded several notable developments in major urban areas. In Ho Chi Minh City, four land lots in Thu Thiem have been brought back into the auction plan with a combined starting price of nearly VND 16.7 trillion, 2.4 to 3.6 times higher than the levels set in 2021. The city also approved an auction plan for three land lots covering more than 2.1 hectares in Thu Thiem for the development of an integrated school, while lots 3-12, 3-8 and 3-9 were assigned a combined starting price of nearly VND 14.575 trillion. In another development, nearly 19.2 hectares of land at the Ho Chi Minh City Hi-Tech Park was recovered after the Millennium Park project ceased operations. The city also handed over nearly 4,820 square meters of land to Thao Dien Real Estate Company for the Nam Ly social housing project in Phuoc Long Ward, with a 50-year land use term, and announced four additional SonKim Land projects eligible for sale to foreign buyers. Social housing remains a major f...

Ho Chi Minh City’s real estate market is seeing a number of notable developments in land management, land use and social infrastructure. The city will recover nearly 19.2 hectares of land at the Saigon Hi-Tech Park after the Millennium Park project of Saigon Garment Manufacturing Corporation ended its operations. In another move, nearly 4,820 square meters of land in Phuoc Long Ward was allocated to Thao Dien Real Estate Company to develop the Nam Ly social housing project, with a land-use term of 50 years. The city also announced four additional projects by SonKim Land that are eligible for sale to foreign buyers. In the Thu Thiem New Urban Area, the Ho Chi Minh City People’s Committee approved a plan to auction the land-use rights of three plots with a combined area of more than 2.1 hectares for the construction of schools offering multiple levels of education. The starting price for plots 3-12, 3-8 and 3-9 is nearly VND14.575 trillion, with plot 3-12 priced at more than VND1 billi...

The real estate market is showing mixed signals. In Hanoi, weak liquidity has prompted many developers to increase discounts and incentives, bringing down the price level of new apartments for the first time after two years of continuous increases. Nationwide real estate inventory reached nearly 53,000 products in the third quarter, almost twice the figure recorded in the same period last year, as purchasing power declined while projects found it difficult to reduce selling prices. The primary villa and townhouse segment in Hanoi also faced absorption pressure as supply rose sharply but only around 30% of units found buyers, according to CBRE. At the same time, many homebuyers with loans have had to sell their properties, move to smaller homes or relocate farther from central areas after interest-rate support periods ended and floating rates increased. In the housing and urban development segment, Hanoi has asked the developer of the NO1 Ha Dinh social housing project to shorten the ...

Hanoi’s primary market recorded a sharp increase in the supply of villas and townhouses in the third quarter, but according to CBRE, only about 30% of units were absorbed because prices remained high. In the affordable housing segment, a social housing project in Phuc Thinh is expected to be priced at VND 29.7 million per square meter. Meanwhile, housing demand in northern Ho Chi Minh City is expected to rise alongside plans to attract high-tech investment and international experts. In Ho Chi Minh City, more than 3.3 hectares of production land in An Phu Ward have been approved for conversion to develop the Phu Gia Khiem apartment project. However, land procedures, site clearance and the requirement for synchronized infrastructure investment remain major bottlenecks in expanding the urban area. Financial pressure is also continuing to affect homebuyers, as many have had to sell properties, move to smaller apartments or relocate farther from the city center after interest-rate support e...

The real estate market recorded notable developments across housing, land and commercial property segments. After the end of interest rate support periods, some homebuyers have had to sell their properties, move to smaller homes or choose locations farther from city centers to ease financial pressure as floating interest rates rise. Meanwhile, primary supply from two large urban projects in western and southern Ho Chi Minh City, where prices are lower, pushed townhouse prices down by nearly 33% year on year. The city’s retail absorption also fell 26% in the third quarter as sports, lifestyle and entertainment chains reduced their floor space. In contrast, condotel sales in the third quarter increased more than fivefold from the previous quarter, despite continued sluggishness in the resort property market. In Ho Chi Minh City, municipal authorities resolved legal issues and allowed Giang Nam Company to convert more than 3.3 hectares of production land for the Phu Gia Khiem apartment ...